Types of Funds
The Jasper Newton Foundation Inc. (JNF) funds can be structured in one of two ways:
Permanent / Endowed
Non-Permanent / Pass-Through
Unrestricted Fund
An Unrestricted Fund is set up for the general benefit of the community and is the most flexible fund option. Grants are determined by the JC Grants Committee or NC Grants Committee under the authority of the Foundation Governing Board. There is no ongoing advice or recommendations for the grants from the donor.
Example: Donor Miss Heart sets up a fund at JNF to provide grants to any and all nonprofits or charitable projects serving Jasper County. There are no restrictions on the grantmaking, including program area or geographic region within the county.
Designated Fund
A Designated Fund is established to provide support for a specific public nonprofit (e.g., the local art museum, school or hospital) to provide that organization with ongoing financial support and security. With a Designated Fund, there is no ongoing advice or recommendations from the donor or designees.
Example: Donor Mr. Heart sets up a fund for the local parks department.
Field of Interest Fund
A Field of Interest Fund is established to provide support for a specified charitable purpose (e.g., cancer research, the arts, public schools, impoverished children). Grants are determined by JC or NC Grants committee, with no ongoing advice or recommendations from the donor.
Example: Donor Miss Heart sets up a fund with only one restriction, such as program area or geographic region, like to promote the arts or to support projects only in South Newton Schools.
Donor Advised Fund
A Donor Advised Fund provides the most flexibility to the donor. Grant recommendations can be made at any time by the donor and must be for 501(c)(3) public charities, not to individuals or for scholarships. The recommendations are advisory only, and the community foundation is free to decline any or all recommendations.
Example: Donor Mr. Heart sets up a fund and wishes to have an advisory role on the grants. Annually, the donor can make recommendations for the grants and the recipients may change each year.
Scholarship Fund
A Scholarship Fund is established to provide educational scholarships to individuals. The donor may have an advisory role; however, they must not act as a majority of the Scholarship Advisory Committee recommending the recipient.
Example: Donors Mr. and Mrs. Heart set up a fund, and the donors are involved in the selection process for the scholarship recipient. Guidance from the Foundation office is offered each Spring.
Advised Agency Fund
An Advised Agency Fund is established at the request of a nonprofit to provide support for the agency, as recommended by the agency. The agency’s recommendations are advisory only, and the community foundation is free to decline any or all recommendations.
Example: A charitable organization sets up fund to assist with its mission.
Community Projects/Fiscal Sponsorship Fund
A group of concerned individuals (with or without a 501(c)(3) status) could set up a non-permanent fund for a specific community project. The Fund will close as soon as the project is completed. This allows the small group to use the 501(c)(3) designation of the Foundation to accomplish their charitable goals.
Example: The Friends of the DeMotte Parks set up a fund to replace the playground equipment at Spencer Park in 2017.
Looking For A List of Funds Already In Place?
You can browse through the entire fund list on our donate page under the “Designation” section.
